American Tungsten & Antimony (ASX:AT4) Dutch Mountain exploration points to scale, infrastructure offers development leverage

American Tungsten & Antimony (ASX:AT4) Dutch Mountain exploration points to scale, infrastructure offers development leverage

February 26, 2026 Off By MarketOpen

American Tungsten & Antimony has completed its first-pass exploration program at the Dutch Mountain Tungsten Project in Utah, confirming a tungsten system that the company says is materially larger than initially anticipated and open in all directions.

The work follows AT4’s recent acquisition of the project and its associated processing infrastructure, positioning the company to advance exploration alongside an already permitted development pathway.

Highlights

  • Phase 1 grid-controlled soil and rock chip sampling completed at Dutch Mountain, with results indicating a larger-than-expected tungsten-bearing system open in all directions.
  • The project includes the only fully permitted tungsten processing route in the Clifton Mining District, removing the multi-year federal permitting typically associated with greenfield developments.
  • Fraction Lode Mine, America’s last operating tungsten mine in 2017, reported historical head grades of 1.7% WO3, with surface mineralisation now confirmed.
  • Preparation of a drilling Notice of Intent is underway, targeting previously disturbed ground to accelerate approvals.
  • Approximately 15 holes have been drilled at Antimony Canyon, with assays expected shortly.
  • Managing Director Andre Booyzen met with US Senator John Curtis to discuss domestic critical mineral security.

Dutch Mountain sits within Utah’s Clifton Mining District and hosts the Fraction Lode system, alongside the Star Dust and E.H.B. Lode mines.

Historical mining at E.H.B. produced 2,374 tons of ore at an average grade of 1.3% WO3, while Fraction Lode was the last tungsten producer in the United States before operations ceased in 2017.

The company’s strategy centres on pairing exploration success with its privately owned, fully permitted processing facility, an asset that directly addresses what has historically constrained development in the district.

As Managing Director Andre Booyzen noted,

The combination of the Fraction Lode’s high-grade pedigree and our permitted processing facility provides AT4 with a clear pathway to potential production. In our view, ownership of this facility directly addresses the lack of regional infrastructure and strengthens our ability to consolidate the district.”

Geologically, Dutch Mountain reflects multiple tungsten-fertile mineralising events spanning the Late Jurassic and Late Eocene.

Earlier granodiorite intrusions generated copper-gold-tungsten veins and breccia pipes, while later quartz monzonite intrusions formed high-grade tungsten skarns at Fraction Lode.

Together, these events created a long-lived hydrothermal system capable of hosting multiple mineralised bodies.

AT4’s completed surface program comprised grid-based soil sampling and targeted rock chipping across outcropping skarn and vein-hosted mineralisation.

Samples have been dispatched to ALS and American Assay Laboratories, with results expected to inform drill targeting.

The company is now preparing a drilling Notice of Intent focused on existing disturbed areas around the Fraction Lode open pit, a tactical approach aimed at streamlining approvals while enabling early evaluation of depth and lateral extensions.

Beyond Dutch Mountain, drilling at the Antimony Canyon Project continues, with approximately 15 holes completed and assays pending. Both projects are being funded from existing cash reserves.

Near-term milestones include integrating assay data into the geological model, submitting the drilling NOI to the Bureau of Land Management, commencing an engineering review of the processing facility to finalise restart scheduling, and continuing engagement with district stakeholders to secure additional high-grade feed for the central hub.

For mid to high net worth investors tracking critical minerals exposure, AT4 offers a rare combination of historical production pedigree, confirmed surface mineralisation and a permitted processing solution in a Tier 1 jurisdiction.

While exploration remains at an early stage, the infrastructure-led model provides a framework for translating geological outcomes into potential development scenarios, at a time when Western supply chains for tungsten and antimony are increasingly in focus.

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